Massachusetts lawmakers are being asked to reject Boston Mayor Wu’s commercial tax increase.
The Massachusetts Legislature’s Joint Committee on Revenue will hold a hearing at 11:00 a.m. on Wednesday on Boston’s tax classification legislation.
The tax bill would grant the Mayor’s office the power to temporarily shift the division of commercial and residential property taxes in response to projected economic upheaval.
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The Small Property Owners Association (SPOA) will be among those who will provide testimony asking lawmakers to reject the tax increase.
“Instead of trimming her budget for efficiency, Mayor Wu wants to impose a tax increase on Boston property owners when they can least afford it, especially owners in the commercial sector who are already struggling with empty buildings,” SPOA said in a statement.
The mayor’s tax hike is aimed at addressing a commercial revenue shortfall in the city’s annual budget, which is driven by changing post-pandemic work patterns that have led to plummeting property values and a record number of vacant office buildings.
“The mayor is attempting to circumvent the guardrails established by Proposition 2 ½ to give Boston a special deal unavailable to any other city or town in Massachusetts. By shifting the tax burden to commercial taxpayers beyond limits defined by Proposition 2 ½, Mayor Wu will start an inevitable rush to the legislature by other communities asking for the same special deal,” SPOA said in a statement.
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SPOA also says Mayor Wu’s tax increase is contradictory to the intent of the Economic Development Bill, which is intended to make Massachusetts more attractive for businesses.
This is a developing story. Check back for updates as more information becomes available.
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